Current Yield

Yellen Calms the Storm for Now

The new Fed chair, speaking to Congress, emphasized continuity with Bernanke's policies, with low rates continuing.

A blizzard last Thursday forced Federal Reserve Chair Janet Yellen to cancel a second day of testimony on Capitol Hill. The reception to her appearance before Congress last Tuesday, however, was anything but stormy.

On Feb. 11, Yellen delivered her first prepared remarks since taking over as Fed chief from Ben Bernanke. In her testimony she not only emphasized continuity with her predecessor, but delivered it as well, by driving home...